The Brazilian Social and Economic Development Bank (BNDES) has approved the grant of a bridge loan in the amount of R$ 488 million to Inframérica, the Concessionaire of Brasilia Airport, to begin the expansion, maintenance and operation of the Brasilia–Presidente Juscelino Kubitschek International Airport in the Federal District, Brazil.

Inframérica is a special purpose entity (SPE) that includes Inframérica Participações S.A. (formed by the Brazilian company Infravix and the Argentine company Corporación America S.A.) and Infraero (the Brazilian Airport Infrastructure Company).

The consortium, led by Infravix and Corporación America, won the auction for the Brasilia Airport concession in February this year. The same private shareholders of Inframérica were also successful in the auction for the construction and operation of the first federal airport to be granted to the private sector, the São Gonçalo do Amarante Airport, to be constructed in the state of Rio Grande do Norte and for which BNDES has already approved R$ 329.3 million in funding.

The financial structure of the Brasilia Airport project also involves long-term financing, to be structured as project finance. The terms of financial support depend on the analysis of the project presented by Inframérica, which is currently underway in BNDES.

Brasilia Airport is the fourth largest in Brazil according to data from Infraero. It represents an important link between the North-Northeast and South-Southeast regions due to its privileged location in the Midwest.

Inframérica intends to increase passenger capacity from 15.4 million in 2011 to 20.7 million in 2014, the year of the World Cup. In 2016, the year in which Rio will host the Olympic Games, capacity is expected to reach 24.4 million, and in 2021 and 2031, capacity will reach 31.3 million and 38.8 million, respectively. In order to achieve this, the number of jetways will increase from 13 to 28 by 2014 and the concessionaire plans to implement 38 jetways by 2021, and 47 by 2031.

The consortium also intends to transform the entire airport area into a commercial hub with the construction of a hotel, convention center and offices. The idea is for Brasilia Airport to accommodate an international logistics center, driven by partnerships with major logistics operators.
Initial works – Early works at the airport include the expansion of the boarding area and parking, the creation of a VIP room and preparing the ground for the expansion of the passenger terminal.

According to Inframérica, 400 direct jobs and 2,000 indirect jobs will be created in the construction phase. During operation, 576 direct jobs and 1,000 indirect jobs are expected to be created, according to estimates from the concessionaire.

Source:
Banco Nacional de Desenvolvimento Econômico e Social

27 December 2012